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FAIR VALUE MEASUREMENTS | 12 Months Ended
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Dec. 31, 2014
FAIR VALUE MEASUREMENTS |
NOTE 4:- | FAIR VALUE MEASUREMENTS
As of December 31, 2014 and 2013, interest receivable amounted to $ 17,864 and $ 17,587 respectively, and is included within other current assets in the balance sheets. In accordance with ASC No. 820, the Company measures its money market funds, marketable securities and foreign currency derivative contracts at fair value. Money market funds and marketable securities are classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments. The Company’s financial assets measured at fair value on a recurring basis, excluding accrued interest components, consisted of the following types of instruments as of the following dates:
|  | December 31, 2014 |
|  | Fair value measurements using input type |
|  | Level 1 |  |  | Level 2 |  |  | Total |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 107,400 |  |  | $ | — |  |  | $ | 107,400 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Government and corporate debentures - fixed interest rate |  |  | — |  |  |  | 2,800,485 |  |  |  | 2,800,485 |
Government-sponsored enterprises |  |  | — |  |  |  | 544,531 |  |  |  | 544,531 |
Government and corporate debentures - floating interest rate |  |  | — |  |  |  | 68,604 |  |  |  | 68,604 |
Foreign currency derivative contracts |  |  | — |  |  |  | (2,942 | ) |  |  | (2,942 | )
Total financial assets |  | $ | 107,400 |  |  | $ | 3,410,678 |  |  | $ | 3,518,078 |
|  | December 31, 2013 |
|  | Fair value measurements using input type |
|  | Level 1 |  |  | Level 2 |  |  | Total |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 88,784 |  |  | $ | — |  |  | $ | 88,784 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Government and corporate debentures - fixed interest rate |  |  | — |  |  |  | 2,565,099 |  |  |  | 2,565,099 |
Government-sponsored enterprises |  |  | — |  |  |  | 535,415 |  |  |  | 535,415 |
Government and corporate debentures - floating interest rate |  |  | — |  |  |  | 120,978 |  |  |  | 120,978 |
Foreign currency derivative contracts |  |  | — |  |  |  | 91 |  |  |  | 91 |
Total financial assets |  | $ | 88,784 |  |  | $ | 3,221,583 |  |  | $ | 3,310,367 |

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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